Summit Midstream Partners, LP (SMC) vs Toro Corp. (TORO)

Summit Midstream Partners, LP and Toro Corp. are both Oil & Gas Midstream companies. Summit Midstream Partners, LP is the larger, with a market value of $631.8M against $184.6M — 3.4× the size. Summit Midstream Partners, LP has negative trailing earnings, so its P/E is not meaningful; Toro Corp. trades at 131×. Summit Midstream Partners, LP grew revenue faster over the last twelve months: 20.9% against −0.04%. Toro Corp. has the higher net margin (1.55% vs −2.29%) and the lower return on invested capital (−2.54% vs 2.59%). Across the 18 metrics below, Summit Midstream Partners, LP leads on 9 and Toro Corp. on 9.

Valuation

Metric SMC TORO Oil & Gas Midstream median
P/E n/m 130.75 13.19
P/S 0.73 5.93 2.60
P/B 0.50 0.66 2.08
Price to free cash flow 9.49 n/m 10.14
EV/EBITDA 8.01 80.28 8.11
EV/Sales 2.80 2.38 3.89
Earnings yield (3.57%) 0.76% 6.83%
Free cash flow yield 10.54% (29.16%) 6.94%

Profitability

Metric SMC TORO Oil & Gas Midstream median
Gross margin 45.03% 53.03% 58.81%
Operating margin 15.10% (21.05%) 32.14%
Net margin (2.29%) 1.55% 21.16%
Free cash flow margin 7.69% (172.97%) 10.15%
Return on equity (1.57%) 0.17% 11.30%
Return on assets (0.55%) 0.10% 5.00%
Return on invested capital 2.59% (2.54%) 6.13%

Growth

Metric SMC TORO Oil & Gas Midstream median
Revenue growth (TTM) 20.94% (0.04%) 15.44%
EPS growth (last fiscal year) 87.40% (92.66%) —
Revenue growth, 5-year CAGR 7.95% — 8.96%
Net income growth, 5-year CAGR 0.00% — 0.00%

Health

Metric SMC TORO Oil & Gas Midstream median
Debt to equity 1.35 0.00 0.78
Current ratio 0.94 22.23 1.19
Net debt to EBITDA 5.27 (305.33) 3.42

Dividend

Metric SMC TORO Oil & Gas Midstream median
Dividend yield — — 7.29%
Payout ratio — — 0.64

Size

Metric SMC TORO Oil & Gas Midstream median
Market cap 631.78m 184.55m 3.61b

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